Adani Group company Ambuja Cements incorporates three fully owned subsidiaries
₹170,00,000 or ₹1.7 crore. In this incorporation, Ambuja Cements would acquire 17 lakh shares of the LOTIS IFSC, which has a face value of ₹10 per equity share.
Similarly, Ambuja Concrete North Private Limited has an authorized capital of ₹1 lakh and face value of each share is ₹10 each. Likewise, Ambuja Concrete West Private Limited has an authorized capital ₹1 lakh and each share of the company has a face value of ₹10 per equity share.
Ambuja Cements went on to inform that LOTIS IFSC belongs to private aircraft industry whereas Ambuja Concrete North Private Limited and Ambuja Concrete West Private Limited belongs to cement industry. Explaining the reason behind this incorporation, Ambuja Cements informed Indian exchanges that LOTIS IFSC Private Limited has been acquired to carry on the business of owning and leasing of Aircraft.
The Adani group company went on to add that Ambuja Concrete North Private Limited has been acquired to carry on the business of manufacturing and dealing in cement, RMX and allied products and by-products. Similarly, Ambuja Concrete West Private Limited has been in corporated to carry on the business of manufacturing and dealing in cement, RMX and allied products and by-products."Exciting news! Mint is now on WhatsApp Channels
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